CME Group offers the widest range of global benchmark products across all major asset classes, including a suite of futures, options, and cash. At CME Group, we also provide access to OTC markets, help optimize portfolios, analyze data, and help manage risk. The Cross-Commodity Recap includes the latest CME Group Commodity product updates and news on the metals, energy, and agricultural markets – it is our curated look at these Commodity products.
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Top-of-book bid/ask spread has returned to levels seen prior to the emergence of Covid-19 in mid-March. Average top of book spread now rests at just above one tick (10 cents) wide.
GC liquidity has improved significantly since the start of the second quarter.
GC inventories held in COMEX depositories reached 28M oz. as of June 30, 2020 ‒ a new record.
Source: CME Liquidity Tool, June 29, 2020
The Gold (Enhanced Delivery) futures contract is being amended to expand allowable delivery locations to include London.
Global gas price convergence and uncertainty around supply and demand heading into the upcoming withdrawal season has led to unprecedented growth in the Henry Hub complex.
Our Energy research team has released a series of articles reviewing the fundamentals around WTI after this April’s super-contango. Topics include:
South America has become a major producer and exporter of agricultural products and the home to many users of our global benchmark risk management products. CME Group and B3 have combined efforts to develop a suite of South American regional products to manage risk in this region. The initial focus of the partnership will be on developing a South American soybean contract that will target international customers trading on CME Group, and then another focused on Brazilian customers trading on B3.
We expect the contracts to be available for trading during Q3 of this year.
CME Group first listed cleared Fertilizer swaps in 2011 for Urea, UAN, and DAP. However, not all market participants could access the cleared swaps. Since June 2019, Fertilizer futures have been listed and available to improve market access.
Source: CME Group
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